NY Sports Betting Revenue Seesaw Continues In August

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NY sports betting

DraftKings reclaimed the top spot in NY sports betting online handle in August over rival FanDuel, as the pair have battled for the market lead throughout the summer.

DraftKings Sportsbook accepted $446.9 million, or 40%, in online bets in August. DraftKings led FanDuel in New York sports betting online handle for the first time in June.

FanDuel Sportsbook, which topped the market in July, accepted $409.1 million online last month, good for 37% of all dollars bet in the state.

NY sports betting revenue gap widens

Despite accepting fewer betting dollars in August, FanDuel produced more revenue than DraftKings during the month.

FanDuel generated $41.9 million, while DraftKings cleared $35.4 million. The books had nearly identical revenue figures in July at $41.09 million and $41.08 million, respectively.

The two market leaders combined for nearly 80% of all revenue produced by NY sports betting apps in August.

Three handle more than $100 million

In addition to DraftKings and FanDuel, Caesars Sportsbook was the only other sports betting app to handle more than $100 million in August.

Sports bettors staked $120 million through the Caesars app in New York last month. Caesars produced $9.5 million in revenue.

Monthly handle back over $1 billion

Total NY sports betting handle rebounded in August, topping $1.11 billion for the month.

According to figures released Friday by the New York State Gaming Commission, it is a 15% increase over July ($962.1 million.)

July was the first month New York sports betting handle failed to surpass the $1 billion mark since August 2022.

Sports betting revenue drops in New York

New York sportsbooks generated $98.5 million in monthly revenue, a 6% decline over July ($105.1 million.)

It was the first time since August 2022 ($99.6 million) that NY sports betting operators failed to generate $100 million in monthly revenue.

With revenue taxed at 51%, New York state collected $50.2 million in August.